GUWAHATI, Aug 30 - Altogether 26 branches of the India Post Payments Bank (IPPB) will be opened for public in Assam in the initial stage. The IPPB has been set up under the Department of Posts, Ministry of Communications, and with 100 per cent equity owned by the Government of India. It will start its operation across the country from September 1.
"In the very initial stage we will open altogether 26 branches of the bank in Assam. Again, 130 post offices of the State will also work as the access points for the bank. The branch of the bank will open in every part of the state in near future," Vishwapaban Pati, Chief Postmaster General of Assam Circle, said.
At the national level, the bank will be formally launched by Prime Minister Narendra Modi on September 1 with the vision to build the most accessible, affordable and trusted bank for the common man and spearhead the financial inclusion agenda by removing the barriers for the unbanked and under-banked population.
"With the aim of carrying forward the mission of financial inclusion, IPPB will use multiple delivery channels, like mobile banking, SMS or missed call banking, internet banking, IVR or call centre, and innovative delivery channels like post office counter and doorstep banking," a statement said.
It also stated that IPPB will strive to reach senior citizens, homemakers, small businessmen, students, farmers, direct benefit transfer beneficiaries, Kirana stores, urban migrants and rural influencers. A wide range of products and services, including savings account, current account, money transfer, direct benefit transfer, third party products, bill and utility payments and enterprise and merchant payments will be offered to the common man by the bank.
The operations of IPPB will rest on biometric authentication, QR card, 1,55,000 access points and workforce of more than three lakh postmen and Gramin Dak Sevaks. The IPPB will offer a range of products such as savings and current accounts, remittances and money transfer, direct benefit transfer, bill and utility payments and enterprise and merchant payments. It will also partner with other financial organisations to provide loans, investment and insurance products.
The biggest mission of the bank is to enhance customer literacy and will promote financial inclusion through financial literacy. It will train three lakh postmen and Gramin Dak Sevaks to provide financial guidance to customers. It will create awareness among customers on how insurance secures the unsecured, how wealth grows from wealth and how even a small saving can go a long way towards building a better future.